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Milestone Fund Reaches US$300 Million
Milestone Partners has announced the final closure of Milestone Partners IV LP with funding amounting to US$300 million. This represents a 25% increase from its predecessor fund Milestone Partners III.
The limited partners include a diverse portfolio of institutional investors, offices and individuals. The commitments to the fund came from domestic, European and Middle Eastern sources.
During the fundraising, the fund was already utilized to purchase the following assets. The first is Machine Laboratory, a Kansas based manufacturer of ultra-high precision components followed by Image API, a Florida based business service provider to both local and state governments. The third acquisition is Martex Fiber, a manufacturer of recycled textiles from South Carolina and Southern Management, a provider of consumer installment loans from South Carolina.
The partners focus on leveraged buyouts and recapitalizations of lower market businesses. The transactions entered into provide greater liquidity to shareholders of privately owned businesses as week as capitalization of growth opportunities.